Marketing Essentials Project: Morrison's Plc Marketing Plan Report

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This report provides a comprehensive analysis of Morrison's Plc's marketing strategies. It begins with an introduction to marketing essentials and then explores the roles and responsibilities of the marketing function within the organization and the broader marketing environment. The report examines the interrelationships between the marketing department and other functional units, such as production, human resources, and finance. A critical evaluation of key marketing elements, including market research, strategic development, and brand awareness, is also included. The report then compares Morrison's Plc with ASDA using the marketing mix (7Ps), evaluating the varied strategies employed by both companies. Finally, the report culminates in the development of a basic marketing plan specifically tailored to Morrison's Plc, addressing key aspects such as target market, marketing objectives, and marketing strategies.
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Marketing Essentials Project
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Table of Contents
INTRODUCTION................................................................................................3
LO 1.................................................................................................................3
P1-Roles and accountabilities of marketing function....................................3
P2- Responsibilities and roles of marketing function in wider organizational
context..........................................................................................................4
M1- Responsibilities and roles of department in marketing environment
context..........................................................................................................5
M2- Importance of connections between marketing and other departments
of Morrison’s Plc............................................................................................6
D1- Critical evaluation base on useful elements of marketing function.......6
LO 2.................................................................................................................7
P3-Comparison between two companies based on application of marketing
mix................................................................................................................7
M2-Evaluation base on varied strategies applied by Morrison’s Plc and
ASDA.............................................................................................................9
LO 3 ................................................................................................................9
P4- Development of basic marketing plan in regard to Morrison’s Plc.........9
M3-Evidence based marketing plan for company.......................................11
D2- Developing strategic marketing plan...................................................12
CONCLUSION..................................................................................................12
REFERENCES..................................................................................................13
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INTRODUCTION
Marketing is the most essential element of ventures that support in development and
success of companies. It brings several benefits for any brand either small or large in different
terms such as it helps to generate brand awareness. The current assignment will be based on
Morrison’s Plc, which falls under list of top leading British Supermarkets. This study will
explain responsibilities and roles of marketing function relate to organizational context and also
in regards to marketing environment. Furthermore, this report will define importance of
interrelationships between marketing and other functional units of chosen company. It will
describe critical analysis base on important elements of main function and its interrelation with
other departments. This assignment will justify comparison between two companies on the basis
of marketing mix implication. Moreover, it will clarify varied strategies in order to demonstrate
ways that help to achieve objectives. This report will explain development of basic marketing
plan in context of selected organization.
LO 1
P1-Roles and accountabilities of marketing function
Marketing function is the main department of organizations because it provides
unexpected benefits and advantages (Naujoks, 2020). The most important roles and
responsibilities of this functional unit has mention below-
Roles of marketing functions-
Market research-
It is one of the most beneficial and useful role of marketing function as it allows
marketers to gather key information about current trends, competitor’s actions and consumer
needs, which is quite essential to know before taking any decision relate to products
development and promotion within Morrison’s (Dwivedi and et.al., 2020).
Develop marketing content-
Another role of marketing function is to create effective and influencing content which it
could use to attract new customers and retain existing one for longer period of time (Hollebeek
and Macky, 2019). They need to play this role in professional manner in context of supermarket.
Generate brand awareness-
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Marketing function roles are limited they are beyond imaginations. One of the most
challenging role that this section could play is the current one because it requires a lot of efforts,
hard work and focus. By generating brand awareness, department enhance productivity and
profitability level of Morrison’s.
Responsibilities-
Set target market-
Marketing function is responsible for targeting profitable market, segment or consumers
who are interested in purchase of Morrison’s products and services exchange of money
(Nadanyiova and Das, 2020). Through this responsibility it could benefits a venture in varied
manners, like attract target people by manufacturing items according to his or her needs.
Communicate with consumers-
Another responsibility of marketing function is this one, with that it can conduct effective
attempts in order to communicate with target customers. It is accountable to make strong bond
between marketers and consumers, which in return increase customer base even better.
Develop marketing strategies-
Marketing function is accountable to crate creative and innovative marketing tactics by
using advance technologies which is very helpful and beneficial as well.
P2- Responsibilities and roles of marketing function in wider organizational context
As discussed above, marketing department play significant roles which directly and
indirectly related to specific organization such as Morrison’s Plc. For example, market research
is the main role of marketing function that provide benefits to chosen company in term of
collecting information and valuable data about current market trends which enable marketers to
develop plan and strategies accordingly.
Brand awareness is the key role of marketing function; it also defines as term of
marketing that describe level of customer recognition of an item by its name (Kriswibowo and
Nirawati, 2020). By creating brand awareness, department gain many benefits. It includes
distinguish and qualities goods from its rival.
Marketing department along above discussion role, conduct another act that is
interrelation and collaboration with other functional units such as production department. It
permits marketing manager to make production team aware about consumer needs, preferences
and trends that people follow. By gathering knowledge and information about all these things
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marketing team share it with production department which enable them to gain competitive
advantages in form of serving quality items according to market needs.
Marketing Manager along with production unit work more may closely with Human
resource management department as well, which enable them to play vital role by developing
effective plans relate to job promotion or advertising. They conduct collaborative practice with
HRM in order to hire new people and gain their attention toward excellent employment
opportunities offer by chosen brand.
Marketing department play another role relate to wider organizational context such as
Morrison’s Plc. By collaborating with IT department, marketing manager achieve set objectives
of company. They solve technical issues without taking too much time and increase customer
base even better than its rivals. Everything is possible because of interrelation between marketing
and IT.
Marketing as functional unit play vita role and responsibility in organizational context, by
collaborating with finance department (Jacobs and Karpova, 2020). This relationship is
beneficial because it allow marketing to receive appropriate amount of money provide by finance
section according to needs of other functional units.
M1- Responsibilities and roles of department in marketing environment context
Each role and accountability of marketing section along with company also relate to
marketing atmosphere (Hanaysha, 2018). Globalization is the key component or external factor
that increase level of competition within world of business and because of that force marketing
team and manager play vital role in form of generating excellent brand awareness which in
return increase the brand recognition, customer base, profitability, productivity and sales level as
well as support in term of generating revenue of Morrison’s Plc even better than its rivals such as
TESCO, ASDA etc. In context of marketing environment, chosen department is responsible for
creating effective and the best strategies which it could use to gain competitive edge. The overall
marketing atmosphere is quite competitive because of emerging trends, technologies and other
factors. Due to this, marketing team need to use advance technologies that help creating content
and promote products in market.
M2- Importance of connections between marketing and other departments of Morrison’s Plc
In order to achieve set goals and business objectives of company, marketing department
has conduct collaborative practices with other functional units such as production, human
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resource management, finance and IT. The interrelationship between marketing and other
functional units is quite beneficial for Morrison’s Plc as it helps to increase productivity level
and sales as well. For example, marketing department conduct collaborative act with production
in form of providing information relate to market trends which most of its consumer follow. By
conducting this practices, they both contribute in maximizing customer base and profits margin
as well. Marketing team also conduct communicative and collaborative practice with other
functional units such as HRM. It is important because it enables administration to strengthen
workforce.
D1- Critical evaluation base on useful elements of marketing function
Market research, strategic development, effective communication, brand awareness and
promotion are the key elements of Morrison’s Plc marketing department. The first element
provide benefit in term of collecting data about what people like the most. But it affects
negatively in form of consuming time and require extra workforce. Furthermore, just like this
component strategic development benefit in form of effectively promoting products and services.
On the other hand, it brings challenge in front of marketing such as choosing the best approach
among list of many. All these components are interrelated with production, human resource etc.
for instance market research is use for operation department and HRM as well to gather data
which they could use to hire people and produce items.
LO 2
P3-Comparison between two companies based on application of marketing mix
Marketing mix is one of the best and most effective strategic tools that is use in different
organizational context to consider varied components that go into advertising brands and its
items. Here, this tool is applied in regards to Morrison’s Plc & ASDA which they could use to
achieve venture objectives.
7Ps of marketing mix Morrison’s plc ASDA
Product Company prepare and
provide fresh food items such
as vegetables, fruits, nuts etc.
It pay attention to features,
packaging and quality of all
Along with improving
products quality, organization
adopt new tech as well. It
enlarges services in unique
manner, they offer a mobile
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its products, which is
important to do.
phone firm based on EE
network and financial
services amongst other
companies. It helps to achieve
goals set by management.
Price To gain the attention of
profitable buyers, Morrison’s
Plc has been used low cost
pricing strategy which is
quite beneficial for venture in
term of increasing sales
(Hemphill and Johnson,
2020).
In order to generate revenue
and increase customer base,
company used low price
tactic for all segments of UK
society.
Place Place is the most important
elements of marketing mix.
Morrison’s by establishing its
outlets in UK and more
nations, serve its services and
delivery product to millions
of consumers.
To increase greater
profitability in short term
period, ASDA use niche store
technique according to that
firm open small places in UK.
People Along with hiring all
employees, Morrison’s Plc
train existing people at
workplace which is really
very helpful for its venture in
term of increasing abilities of
workers and building
effective team of players who
contribute in context of
gaining competitive
advantages.
ASDA to gain competitive
edge use the excellent
element or approach. For
example, firm focus on hiring
local people where it operates
its venture because these
individual are able to identify
current trends and needs of
consumers.
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Promotion To increase customer base,
Morrison’s Plc along with
traditional marketing
approaches adopt the latest
one which brings beneficial
in term of generating brand
awareness at international
level.
ASDA choose its advertising
and promotion strategy in
unique form. It use billboards,
radio etc. as marketing or
product promotion tools.
Process To reach at global level and
achieve all its objectives,
Morrison’s Plc offer lowest
prices on lasting basis and its
outlets easier as well as
happier place to shop.
In order to become more
popular and profitable, ASDA
has spread its branches in
different style such as by
selling household items and
then financial services as
well.
Physical evidence To attract people and spread
information about venture,
Morrison’s plc need to show
its physical existence. By
developing official website
company achieve above goal.
On the other hand, to reach
target market and drive their
attention, ASDA also show its
existence in market by using
varied methods such as
promoting logos.
M2-Evaluation base on varied strategies applied by Morrison’s Plc and ASDA
In order to achieve aims and business objectives both companies have used different
techniques and applied methods in varied forms which are quite beneficial for both of them. For
instance, from above comparison it has been evaluated that premium pricing strategy is helpful
for Morrison’s Plc in term of increasing visibility, customer base, gaining competitive edge and
maximize profits margin. Furthermore, the pricing tactic of ASDA is also beneficial in form of
gaining attention of middle class people who could not afford quality and brand products because
of high pricing tags on goods. Marketing mix and STP is another tactic that company could
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apply in order to gain competitive advantages, it impact positively. On the other hand, it affects
negatively upon business and management practices in form of consuming time and efforts.
LO 3
P4- Development of basic marketing plan in regard to Morrison’s Plc
Overview-
Marketing plan is a document that outlines advertising tactic, methods and approaches for
achieving business objectives and goals. It is developed in context of chosen company. Here,
this plan is developed in context of launching new vegan items such as yogurt, milk etc.
Aim-
The goal of company is to generate high revenue and increase customer satisfactory level.
Objectives-
To gain attention of target group.
To generate revenue by 25%.
To conduct sustainable business practices.
To be competitive for longer period of time.
To increase profitability and productivity.
Pestle analysis-
External factors Impact
Political factor Change in tax rate is one of the political factors
that put negative impact on trading process and
decision-making of M&S.
Economic factor Unemployment in form of economic element
impact positively upon production process of
company relate to manufacture vegan items
that most of the people in recent time like to
purchase.
Social factor Changing needs and preferences impact
negatively upon current management decision
and marketing plan to company.
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Technology factor Technology advancement impact sales and
productivity of M&S in positive manner as it
help to reach at global market.
Environmental factor It impacts positively because company has
already taken its major steps and take decision
to reduce its carbon footprint.
Legal factor Change relate to marketing laws and
regulations affect negatively upon current plan
and strategy of promotion in form of driving
attention of management towards developing
whole plan in new format by following rules
and terms.
Swot analysis-
Strengths
Skilled employees is the most useful
and beneficial strength of M&S.
Competence relate to technology and
trends adaption is another strength of
firm, which enable them to grow in
retail sector successful.
Weaknesses
Poor supply chain is one of its weak
point that decrease sales level of M&S.
High cost due to manual procedures.
Opportunities
Advancement of technology is the best
growth opportunity.
Business expansion allow M&S to
promote its new vegan product at
international level.
Threat
Intense competitive is the biggest threat
posses in context of M&S marketing
plan.
Strategy-
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Organization in order to achieve above aim and objectives must conduct market research
because it enable firm to gather information about number of rivals and their powers as well. It is
one of the external factors that put negative impact on current management tactics and plans as
well. Due to intense competition, TESCO, ASDA, Sainsbury and other supermarket brands give
tough competition to each other by using key methods and techniques. Morrison’s plc through
above discuss tactic can collect information relate to all rivals.
Furthermore, company to reach at global level and increase profits margin need to use its
key strengths that is skilled and talented workforce. By using abilities and knowledge of
employee company could gain a lot of benefits in term of gaining competitive advantages.
Firm should use its financial competence to gain all edge and enhance its financial
position in retail market.
Government policies and rules could put negative impact on marketing strategy of
Morrison’s Plc. To overcome it, company can follow all rules and regulations relate to ads.
STP-
Segmentation-
In regard to current marketing plan, Marks & Spencer would use demographic
segmentation strategy to chose its target consumers for new vegan items.
Targeting-
Organization target 30 plus age group as target segment who have high income and
interest in purchase of vegan food products.
Positioning-
In order to set top position in mind of consumers and influence all of them, company
should use each digital marketing along with traditional marketing tools.
Tactics-
Product-
In short term period, Morrison’s Plc could launch its new vegan food products which
enable them to grab business development opportunities and enhance customer base.
Price-
Morrison’s in order to respond to existing growth chances and threats as well can set
premium pricing strategy in context of vegan items, which enhance level of productivity and
bring advantages in form of increasing sales.
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Place-
To gain the attention of local and international customers Morrison’s Plc could establish
its own store in a well-known mall, where number of customers as compare to other places were
wider.
Promotion-
Business expansion it the great venture growth opportunity which in return generate
revenue and allow company to reach at global level. Organization could achieve this aim by
promoting products, business acts and services by using social media platforms.
People-
Morrison’s Plc to overcome threat can use effective approach in term of hiring new
applicants who are experienced, talented and knowledgeable. It enables them to give tough
competition to its rivals.
Process-
Firm should collect raw materials and other goods from those suppliers that provide
organic items which in recent time all customers’ needs to purchase.
Physical evidence-
To show existence in retail industry and attract target customer, company could use
billboard, templates and online website as ways of showing physical evidence.
Competitor analysis-
Porter's five forces Degree of each force and its impact on
marketing plan
Bargaining power of suppliers The degree of this force is low because of
wider number of suppliers that are accessible
in corporate world. It impacts positively in
context of above marketing plan.
Bargaining power of consumers Extent of this element is also low because of
lack of substitute products.
Threat of substitute products or services Degree of this component is low.
Threat of new entrance Threat of this force is medium because retail
industry have fewer limitations in context of
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